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Director, Forensic Services at PwC Germany
Tel.: +49 69 9585-5831
A crisis can happen at any time. The COVID-19 pandemic has shown us how quickly a local event can escalate into massive worldwide disruption to life and business. While the origin and timing of a crisis may be unknown, companies can put a range of measures and initiatives in place to be prepared. Good preparation for crisis situations helps mitigate the risk of damage to your employees and customers, disruptions to normal operations, and long-lasting damage to your reputation. With the right preparation, you can emerge from crises stronger.
Good crisis preparation helps your organization to respond more swiftly and more efficiently to disruptive events. The more prepared a company is, the more targeted the crisis response will be. Here are a few approaches to consider as part of your crisis preparation.
A crisis preparation assessment provides a detailed snapshot of your organization’s current crisis management capabilities. The assessment provides an insight into how prepared your company is and helps to define priorities for enhancing your resilience to crises.
Simulations and exercises can help your organization regularly test, reassess, and improve its resilience. Your teams are trained in dealing with difficult situations and develop a routine that pays off in the event of an emergency.
General crisis training establishes a structured process for developing potential crisis scenarios, reviewing your crisis and business continuity plans, and putting them to the test. You’ll develop muscle memory and be better prepared for the unknown.
Ideally, crisis preparation and management should be implemented as an integrated program throughout the company. The program elevates your teams’ awareness of risk and potential implications. It helps the whole organization to navigate a crisis with confidence.
Crisis plans are critical to an effective crisis management program and, ultimately, crisis response. A good crisis plan provides clear structure and guidance to overcome the challenges of a significant disruptive event.
On-call agreements provide external support in the event of an emergency. An on-call agreement with PwC offers priority access to a global network of experts, experienced crisis handling personnel, and surge capacity in the event of a crisis situation.
“93% of companies expect to experience a crisis in the future.”